Qatar Islamic Bank plans 5-yr benchmark sukuk; pricing this week

DUBAI Tue Oct 2, 2012 7:17am EDT

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DUBAI Oct 2 (Reuters) - Qatar Islamic Bank (QIB), the Gulf state's largest sharia-compliant lender, is planning to issue a five-year benchmark-sized Islamic bond, or sukuk, this week, arranging banks said on Tuesday.

Price guidance for the dollar-denominated issue was set at a spread of 190 basis points over midswaps.

Benchmark-sized is understood to be at least $500 million. HSBC, Standard Chartered, Deutsche Bank and Qinvest, part-owned by QIB, are arranging the deal. (Reporting by Rachna Uppal; Editing by David French)

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